Top Posts
Environment minister says tree planting key to combating...
Study shows two-thirds of global warming caused by...
Climate Change: Heavy surge wipes out six Lagos...
Study shows mountain plants won’t adapt fast enough...
Magnitude 4.1 earthquake hits Marrakech
Weather expert warns climate change to hit agriculture...
NGO wants govt to tackle climate change-driven conflicts
NiMet DG seeks Integration of Meteorological Data Into...
Climate activists renew call for climate reparation for...
Nigeria to host global workshop on climate change
EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World
World

New law to mandate firms to reveal carbon emissions

by admineconai October 10, 2023
written by admineconai October 10, 2023
502

A groundbreaking California law is expected to prevail upon large companies doing business in the state – including major global corporations – to disclose their planet-heating carbon emissions.

The measure, signed into law by the governor, Gavin Newsom will be the nation’s first of its kind, serving as a blueprint for national climate accountability and comes as federal regulators have dragged their feet on crafting similar rules, which could be finalized this month.

According to reports, SB 253 will require California regulators to create rules by 2025 for public and private companies whose annual revenues exceed $1bn. That affects about 5,300 corporations, including Chevron, Wells Fargo, Amazon and Apple.

By 2026, those companies will have to publicly disclose how much carbon is produced by their operations and electricity use, according to reports. Critically, by 2027, they will also be required to report emissions generated by their supply chains and customers, known as “scope 3” emissions, which are highly controversial among business interests, including the fossil fuel industry.

Read also: Scientists say climate crisis will make Europe’s beer cost more, taste worse

Reports further show that a companion bill passed by the state’s legislature, SB-261, would additionally require businesses with more than $500m in yearly revenue to disclose their climate-related financial risks beginning in 2026, or face annual penalties.

Both bills will make new data public beyond California’s borders, which supporters say could be game-changing.

“The disclosure requirements would really pull back the curtain on the biggest climate destroyers in the oil industry and make it harder to greenwash,” said Hollin Kretzmann, a senior attorney at the environmental advocacy group Center for Biological Diversity, which supported the bills.

The measures come as the Securities and Exchange Commission (SEC) finalizes a long-awaited, similar federal mandate. Last year, the agency proposed regulations that would likewise require publicly traded companies to notify investors of their emissions – including scope 3 emissions – and climate-related risks.

Story was adapted from the Guardian.

CaliforniaCarbon emissionFirmsLaw
0 comment 0 FacebookTwitterPinterestEmail
admineconai

previous post
Scientists say climate crisis will make Europe’s beer cost more, taste worse
next post
UN biodiversity chief says politicians will drive U-turns on green agenda

Related Posts

Study shows two-thirds of global warming caused by...

May 8, 2025

Weather expert warns climate change to hit agriculture...

May 5, 2025

Trump dismisses authors of major climate report

April 30, 2025

New UN report shows Indigenous Peoples sidelined in...

April 25, 2025

UN Report shows Climate crisis driving surge in...

April 24, 2025

UNDP joins Global Network to assist countries cope...

April 24, 2025

Earthquakes hit Mae Hong Son, Myanmar border on...

April 21, 2025

European State of the Climate report finds 2024...

April 21, 2025

Study links climate change to rising arsenic levels...

April 18, 2025

5.6 Magnitude Earthquake Hits Southern Philippines

April 16, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Bloglovin
  • Vimeo

@2021 - All Right Reserved. Designed and Developed by Eco-Nai+

EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World